AC

Almitas Capital Portfolio holdings

AUM $417M Turnover 37.33%
1-Year Est. Return 22.81%
This Fund
S&P 500
This Quarter Est. Return
-1.45%
1 Year Est. Return
+22.81%
3 Year Est. Return
+86.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$454M
AUM Growth
+$17.3M
Cap. Flow
+$50.4M
Cap. Flow %
11.1%
Top 10 Hldgs %
63.04%
Holding
123
New
57
Increased
17
Reduced
15
Closed
17
Avg Time Held
0.6 years
Top 10 Avg Time Held
0.5 years
Top 20 Avg Time Held
0.5 years

Top Buys

Rank Stock Value
1
ELME icon
Elme Communities
ELME
+$17.2M
2
FSSL icon
FS Specialty Lending Fund
FSSL
+$11M
3
MRCC icon
Monroe Capital Corp
MRCC
+$5.91M
4
USA icon
Liberty All-Star Equity Fund
USA
+$5.01M
5
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$4.84M

Top Sells

Rank Stock Value
1
PHD
Pioneer Floating Rate Fund
PHD
+$6.97M
2
FBTC icon
Fidelity Wise Origin Bitcoin Fund
FBTC
+$6.54M
3
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$6.54M
4
ENX
Eaton Vance New York Municipal Bond Fund
ENX
+$6.09M
5
IGF icon
iShares Global Infrastructure ETF
IGF
+$5.68M

Sector Composition

Rank Sector Weight
1 Miscellaneous 64.42%
2 Healthcare 15.69%
3 Financials 8.16%
4 Real Estate 7.98%
5 Consumer Discretionary 1.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
FBTC icon
1
Fidelity Wise Origin Bitcoin Fund
FBTC
$15.2B
$117M 25.79%
1,536,637
-75,000
-5% -$6.54M
2024 Q3
5 quarters
BTT icon
2
BlackRock Municipal 2030 Target Term Trust
BTT
$1.38B
$33.9M 7.47%
1,486,013
-53,250
-3% -$1.2M
2024 Q2
6 quarters
AMLX icon
3
Amylyx Pharmaceuticals
AMLX
$3.39B
$25.6M 5.65%
2,122,597
– –
2024 Q2
6 quarters
ASA icon
4
ASA Gold and Precious Metals
ASA
$941M
$22.8M 5.02%
382,139
+46,797
+14% +$2.37M
2025 Q3
1 quarter
FETH icon
5
Fidelity Ethereum Fund
FETH
$1.31B
$19.2M 4.24%
650,000
– –
2025 Q2
2 quarters
LYEL icon
6
Lyell Immunopharma
LYEL
$196M
$17.8M 3.92%
577,807
– –
2024 Q4
4 quarters
ELME icon
7
Elme Communities
ELME
$156M
$17.6M 3.88%
+1,012,210
New +$17.2M
2025 Q4
0 quarters
DSGN icon
8
Design Therapeutics
DSGN
$609M
$14.4M 3.16%
1,530,435
– –
2023 Q4
8 quarters
FSSL icon
9
FS Specialty Lending Fund
FSSL
$867M
$11.3M 2.5%
+801,778
New +$11M
2025 Q4
0 quarters
CNNE icon
10
Cannae Holdings
CNNE
$688M
$6.48M 1.43%
411,893
-144,795
-26% -$2.47M
2025 Q1
3 quarters
MRCC icon
11
DELISTED
Monroe Capital Corp
MRCC
$6.36M 1.4%
999,044
+890,139
+817% +$5.91M
2025 Q3
1 quarter
CCAP icon
12
Crescent Capital BDC
CCAP
$330M
$6.24M 1.37%
444,234
+67,773
+18% +$963K
2025 Q1
3 quarters
BRSP icon
13
BrightSpire Capital
BRSP
$468M
$5.76M 1.27%
1,029,464
– –
2024 Q4
4 quarters
DSM icon
14
BNY Mellon Strategic Municipal Bond Fund
DSM
$253M
$5.72M 1.26%
926,301
+75,214
+9% +$450K
2024 Q4
4 quarters
PCQ icon
15
Pimco California Municipal Income Fund
PCQ
$146M
$5.59M 1.23%
640,607
+487,609
+319% +$4.29M
2025 Q1
3 quarters
CMU
16
DELISTED
MFS High Yield Municipal Trust
CMU
$5.26M 1.16%
1,497,718
-9,450
-0.6% -$33K
2023 Q4
8 quarters
USA icon
17
Liberty All-Star Equity Fund
USA
$1.81B
$5.05M 1.11%
+804,614
New +$5.01M
2025 Q4
0 quarters
ETHA icon
18
iShares Ethereum Trust ETF
ETHA
$8.58B
$4.92M 1.08%
73,135
– –
2025 Q2
2 quarters
HYG icon
19
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
$4.84M 1.07%
+60,000
New +$4.84M
2025 Q4
0 quarters
JOF icon
20
Japan Smaller Capitalization Fund
JOF
$346M
$4.83M 1.06%
435,985
-45,657
-9% -$480K
2022 Q1
15 quarters
GLO icon
21
Clough Global Opportunities Fund
GLO
$231M
$4.47M 0.98%
790,286
+298,428
+61% +$1.7M
2023 Q4
8 quarters
CXE
22
DELISTED
MFS High Income Municipal Trust
CXE
$4.42M 0.97%
1,193,886
+90,456
+8% +$336K
2023 Q3
9 quarters
NQP icon
23
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$4.38M 0.97%
368,795
-9,263
-2% -$112K
2022 Q4
12 quarters
DTF icon
24
DTF Tax-Free Income 2028 Term Fund
DTF
$79.2M
$4.01M 0.88%
350,940
– –
2022 Q4
12 quarters
ARR icon
25
Armour Residential REIT
ARR
$1.93B
$3.84M 0.85%
217,149
– –
2025 Q3
1 quarter
1
2 3 4 5

Similar funds

CWA
Consilio Wealth Advisors Bellevue, Washington $417M AUM 20.84% 1-Year Est. Return
SCM
Seascape Capital Management Portsmouth, New Hampshire $417M AUM 41.98% 1-Year Est. Return
EWM
EPG Wealth Management Atlanta, Georgia $417M AUM 34.31% 1-Year Est. Return
RA
Resolute Advisors San Francisco, California $417M AUM 60.99% 1-Year Est. Return
CIM
CIM Investment Management Pittsburgh, Pennsylvania $417M AUM 49.77% 1-Year Est. Return
MWM
McMill Wealth Management Norfolk, Nebraska $417M AUM 12.55% 1-Year Est. Return
VA
Vestwell Advisors New York $418M AUM 17.76% 1-Year Est. Return
CWM
Concentrum Wealth Management San Jose, California $418M AUM 40.93% 1-Year Est. Return

Almitas Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Almitas Capital held 123 positions worth $454M, up 4% from $437M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Almitas Capital deployed $50.4M of net new capital in Q4 2025, opening 57 new positions and adding to 17 existing holdings. Its largest new stake was Elme Communities: 1,012,210 shares worth $17.6M.

By sector, the portfolio is most concentrated in Miscellaneous at 64% of assets, down from 76% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Fidelity Wise Origin Bitcoin Fund, an estimated $6.54M trimmed.

  • Almitas Capital's largest Q4 2025 buy was Elme Communities: 1,012,210 shares worth $17.6M.
  • Almitas Capital added most to Monroe Capital Corp in Q4 2025, an estimated $5.91M increase.
  • Almitas Capital's biggest Q4 2025 reduction was Fidelity Wise Origin Bitcoin Fund, cutting an estimated $6.54M.
  • Almitas Capital fully exited Pioneer Floating Rate Fund in Q4 2025, selling an estimated $6.97M.
  • Almitas Capital's ten largest holdings make up 63% of its $454M portfolio in Q4 2025.
  • Almitas Capital opened 57 new positions and closed 17 in Q4 2025.
  • Almitas Capital's portfolio value rose 4% quarter-over-quarter to $454M.

Based on Almitas Capital's 13F filing for Q4 2025, filed 17 Feb 2026.